A self-managed institution of 10-20 members, based on common interest & affinity for socio-economic improvement of their members:

Small community-based groups play a crucial role in economic and social empowerment, particularly in rural and underprivileged areas. 

Key Points

•  A Self-Help Group (SHG) is a self-managed institution comprising 10-20 members who come together based on common interests and affinity to enhance their socio-economic well-being.
• SHGs primarily focus on savings, credit facilities, income-generating activities, and skill development. They empower members, especially women, by providing access to financial resources, promoting entrepreneurship, and improving social status.
• The group operates democratically, making collective decisions for mutual benefit.

Thus, it is concluded that A self-managed institution of 10-20 members, based on common interest & affinity for socio-economic improvement of their members is Self-help group.

Hint

• Communal group refers to a larger community-based association, but it does not necessarily focus on financial and economic self-management like SHGs.
• Residential group is typically based on living arrangements rather than economic activities.
• Non-formal group lacks structured management and financial activities, unlike SHGs, which have organized operations.